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Investcorp buys S&S

Investcorp has acquired S&S Truck Parts, a distributor of private label and branded aftermarket truck parts.

Investcorp has acquired S&S Truck Parts, a distributor of private label and branded aftermarket truck parts. No financial terms were disclosed.

PRESS RELEASE

New York, March 8, 2022 – Investcorp, a leading global alternative investment firm, today announced its acquisition of S&S Truck Parts (“S&S”), a leading independent distributor of private label and branded aftermarket truck parts. Terms of the transaction were not disclosed.

Founded in Chicago in 1952, S&S has a long history of providing high-quality, engineered aftermarket truck parts. Today, S&S serves over 1,600 customers including Original Equipment Manufacturers (OEMs), OE dealerships, independent warehouse distributors and service shops primarily across North America.
“S&S operates in a large and resilient market that is currently enjoying strong secular tailwinds driven by the demand for trucking services and aging truck fleets,” said Steve Miller, Managing Director, Private Equity – North America at Investcorp. “This investment and partnership with the S&S team was a natural extension of our experience in the aftermarket auto and trucking industry. Its leading market position, strong customer relationships and the compelling value proposition of S&S’s private label offering present a highly attractive investment opportunity.”

“Our goal is to always provide our customers with a wide selection of high-quality truck parts and a premium service through our experienced and talented employees,” said DJ Hoffman, Chief Executive Officer at S&S. “We are proud to be partnering with Investcorp, who has an impressive track record in the aftermarket industry and a strong heritage in providing strategic and thoughtful partnership to family and founder-led businesses. This marks an exciting opportunity to further capitalize on the growth of our unique private label and branded offering.”

The partnership will focus on continuing S&S’s organic growth through new product introductions and geographic expansion across North America while seeking to complete strategic, add-on acquisitions. DJ Hoffman will retain a significant ownership stake in the business as part of the transaction.

Investcorp has an established capability of investing across the aftermarket distribution industry with notable past investments including Arrowhead Engineered Products, FleetPride and American Tire Distributors and current portfolio company KSI Auto Parts

About Investcorp
Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes, infrastructure, and insurance asset management. Since our inception in 1982, we have focused on generating attractive returns for our clients while creating long-term value in our investee companies and for our shareholders as a prudent and responsible investor.

We invest a meaningful portion of our own capital in products we offer to our clients, ensuring that our interests are aligned with our stakeholders, including the communities that we operate within, towards driving sustainable value creation. We take pride in partnering with our clients to deliver tailored solutions for their needs, utilizing a disciplined investment process, employing world-class talent and combining the resources of a global institution with an innovative, entrepreneurial approach. In January 2022, Investcorp issued its 2021 Responsible Business Report which outlines its Environmental, Social, and Governance (ESG) highlights for 2021 and specific initiatives the Firm implemented to meet its goals: https://www.investcorp.com/esg/

Investcorp has today 13 offices across the US, Europe, GCC and Asia, including India, China and Singapore. As of December 31, 2021, Investcorp Group had US $40.4 billion in total AUM, including assets managed by third party managers, and employed approximately 460 people from 46 nationalities globally across its offices. For further information, visit www.investcorp.com and follow us @Investcorp on LinkedIn, Twitter and Instagram.
About S&S Trucks
S&S Truck Parts, LLC., is a leading distributor of private label and branded aftermarket truck parts. Under its proprietary “NewStar” brand, S&S offers a wide breadth of products for heavy and medium-duty trucks.